Areva SA, Frances state-controlled nuclear energy company, announced its restructuring plans Wednesday, which will see it split into three smaller companies and raise about 8 billion euros (about $9 billion) in fresh capital. The company, which has made losses for the last five years, will also sell its non-core businesses to raise some of the…
The Reserve Bank of India (RBI) relaxed guidelines on Monday for lenders restructuring large stressed loans, in a move that could allow banks to more effectively manage bad loans. Indian banks are grappling with about $120 billion in stressed loans, or 11.5% of the total, and RBI Governor Raghuram Rajan has…
The Reserve Bank of India (RBI) relaxed guidelines on Monday for lenders restructuring large stressed loans, in a move that could allow banks to more effectively manage bad loans. Indian banks are grappling with about $120 billion in stressed loans, or 11.5 percent of the total, and RBI Governor Raghuram Rajan has set a deadline…
By Suvashree Choudhury and Himank Sharma MUMBAI (Reuters) – The Reserve Bank of India (RBI) relaxed guidelines on Monday for lenders restructuring large stressed loans, in a move that could allow banks to more effectively manage bad loans. Indian banks are grappling with about $120 billion in stressed loans, or 11.5 percent of the…
NEW YORK–(BUSINESS WIRE)–International law firm Dorsey & Whitney LLP announced today that Janet M. Weiss has joined the Firms Finance & Restructuring Group in New York as a Partner. Ms. Weiss has extensive experience in all aspects of corporate reorganization and debt restructuring matters. She has represented debtors, creditors, committees, secured lenders, debtor-in-possession financing lenders…
College graduates at a job fair in Nanjing, capital of East China’s Jiangsu province, June 5, 2016 [Photo/VCG] BEIJING – Stable economic growth, continued progress in structural reform, and policies supportive of entrepreneurship and employment generation have offered new opportunities for college graduates. A survey conducted by education research company MyCOS Institute, released on Sunday,…
McGlinchey Stafford PLLC announced the addition of accomplished attorney Deborah A. Reperowitz as a member in the firm’s Commercial Litigation practice group and New York City office. Reperowitz is a nationally known attorney, representing clients in all aspects of commercial litigation, business restructuring, and bankruptcy matters. She is listed on the register of mediators maintained…
Boston Scientific Corp. is cutting costs after several years of disappointing financials. The Marlborough, Mass.-based medical-device maker has announced a global restructuring program that is expected to reduce annual pre-tax operating costs by $115 million to $150 million. Boston Scientific did not disclose how exactly it would cut costs or how many workers could be…
The logo of Swiss bank UBS is seen at the company’s headquarters in Zurich, Switzerland February 10, 2015. Reuters/Arnd Wiegmann UBS’s (UBSG.S) wealth management business in the Americas will cut back recruitment of financial advisers by 40 percent as part of a broader restructuring by Tom…
With its stock down almost 50 percent since 2014, the legendary brand is taking a page from its younger competitors.Video provided by Newsy Newslook Ralph Lauren CEO Stefan Larsson plans to close 50 stores and cut 1,000 jobs as part of a restructuring plan to get the business back to profitability.(Photo: Spencer Platt, Getty Images)…